BEIJING, May 16 (Xinhua) -- China is likely to revise the implementation regulations of the foreign-funded insurance companies soon in an effort to adapt to the new situation of its opening-up to the outside world, the Xinhua-run Shanghai Securities News reported on Wednesday.
According to industry insiders, China is expected to raise the cap of the shareholding of the foreign capital in the joint venture insurance companies from the previous 50 percent to 51 percent, allowing the foreign capital to control or have a say in the companies.
It will likely lower the threshold for the establishment of branches of the joint venture and wholly-owned foreign insurance companies. Relevant procedures will be simplified.
In addition, China will clarify and regulate the behavior of foreign-funded insurance companies' equity changes, according to the report. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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